GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Time to Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $4.68, but opened at $4.92. GraniteShares 2x Long COIN Daily ETF shares last traded at $4.9530, with a volume of 5,263,984 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The company has a 50-day moving average of $5.50 and a 200 day moving average of $6.04.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CONL. Optiver Holding B.V. lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% in the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock valued at $906,000 after purchasing an additional 90,448 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth approximately $814,000. Group One Trading LLC increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock valued at $198,000 after purchasing an additional 22,965 shares during the last quarter. Flagstar Advisors Inc. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at approximately $189,000. Finally, NewEdge Advisors LLC increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 58.0% during the 1st quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after purchasing an additional 5,900 shares during the last quarter.

GraniteShares 2x Long COIN Daily ETF Company Profile

The GraniteShares 1.5x Long Coinbase Daily ETF (CONL) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Coinbase stock. CONL was launched on Aug 9, 2022 and is managed by GraniteShares.